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Mayor proposes $16.6bn of investment for Auckland

Mayor proposes $16.6bn of investment for Auckland


Auckland Mayor Len Brown today presented his proposal for Auckland’s next ten-year budget - the Long-term Plan (LTP) 2015-2025.

The Mayor’s proposal sets out priorities for investment over the next decade to support Auckland’s development, while keeping rates and debt at affordable levels.

“This proposal delivers more investment than Auckland has seen in any previous decade, while keeping rates fairer and more affordable for all Aucklanders,” says Len Brown.

“I am proposing $16.6 billion in investment for local and regional projects over the next 10 years, while reducing projected debt levels by $2.7 billion and capping average rates rises to between 2.5 and 3.5 per cent.

“I share Aucklanders determination to see progress, particularly in public transport and housing, but at the same time I know they have no appetite for large increases in rates or debt levels.”

The proposal is a departure from the previous 2012-22 LTP, which requires average rates increases of 4.9 per cent a year to fund all of its commitments.

Len Brown says that while the capital investment will be lower than under the previous LTP, it will be fully aligned to Auckland’s growth priorities, while protecting many core services. The Mayor also reaffirmed his commitment that no swimming pool or library will be closed.

The Mayor said that additional funding would be needed to deliver Auckland’s transport priorities and that options were being developed for consultation later this year.

“We have suffered from decades of chronic under-investment in major transport infrastructure and every day Aucklanders tell me to fix the transport problem. A basic network isn’t good enough for me and I know it isn’t good enough for Aucklanders. Later this year I will be presenting a second option for funding a more ambitious, fully integrated transport network that could finally fix Auckland and get it moving.”

Ends

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